Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $17.17 Consensus PT from Brokerages

Alignment Healthcare, Inc. (NASDAQ:ALHC) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $17.17.

ALHC has been the topic of several research analyst reports. Robert W. Baird boosted their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. Bank of America upped their price target on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Barclays upped their price target on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, February 28th. Finally, Stifel Nicolaus upped their price target on Alignment Healthcare from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, April 8th.

Alignment Healthcare Stock Down 2.7%

Shares of NASDAQ:ALHC opened at $13.70 on Monday. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -28.54 and a beta of 1.22. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.95. Alignment Healthcare has a 12-month low of $7.19 and a 12-month high of $21.06. The business’s 50 day moving average is $15.57 and its 200 day moving average is $15.00.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. Alignment Healthcare had a negative return on equity of 80.49% and a negative net margin of 3.02%. The business had revenue of $926.93 million for the quarter, compared to analysts’ expectations of $889.83 million. During the same quarter in the previous year, the firm earned ($0.25) earnings per share. The business’s revenue was up 47.5% on a year-over-year basis. On average, sell-side analysts forecast that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO John E. Kao sold 90,000 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $14.48, for a total transaction of $1,303,200.00. Following the sale, the chief executive officer now owns 1,733,100 shares of the company’s stock, valued at approximately $25,095,288. This represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andreas P. Wagner sold 19,399 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $15.26, for a total value of $296,028.74. Following the sale, the insider now directly owns 204,075 shares in the company, valued at $3,114,184.50. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,820,262 shares of company stock valued at $273,442,246. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of Alignment Healthcare

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in Alignment Healthcare by 2.2% in the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock worth $1,527,000 after acquiring an additional 2,937 shares during the last quarter. New York State Common Retirement Fund increased its stake in Alignment Healthcare by 173.8% in the 4th quarter. New York State Common Retirement Fund now owns 82,455 shares of the company’s stock worth $928,000 after acquiring an additional 52,337 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Alignment Healthcare in the 4th quarter worth about $184,000. US Bancorp DE increased its stake in Alignment Healthcare by 6,544.2% in the 4th quarter. US Bancorp DE now owns 98,932 shares of the company’s stock worth $1,113,000 after acquiring an additional 97,443 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Alignment Healthcare by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 847,974 shares of the company’s stock worth $9,540,000 after acquiring an additional 8,279 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.